10 million jobs lost | Oil surges on talk of production cut | How deep will job cuts go?

Stocks rose in volatile trading Thursday, led by oil's biggest one-day rally on record.

VIEW IN BROWSER | SUBSCRIBE THU, APR 02, 2020 EVENING BRIEF AS OF THU, APR 02, 2020 • 04:02 ET DJIA 21413.44 +2.24% +469.93 S&P 500 2526.90 +2.28% +56.40 NASDAQ 7487.31 +1.72% +126.73   Most Active DOW NAME LAST CHG %CHG XOM 40.40 +2.87 +7.65% MSFT 155.26 +3.15 +2.07% BA 123.27 -7.43 -5.68% S&P 500 NAME LAST CHG %CHG CCL 7.97 -0.83 -9.43% GE 6.90 -0.14 -1.99% F 4.36 -0.04 -0.91% NASDAQ NAME LAST CHG %CHG AMD 44.49 +0.83 +1.90% AAL 10.06 -0.63 -5.89% MSFT 155.26 +3.15 +2.07% EDITOR'S NOTE Nearly 10 million people have filed unemployment claims since the coronavirus pandemic began closing down the U.S. economy  in mid-March.   CNBC's Patti Domm writes that this is only the beginning. Goldman Sachs economists are forecasting another 18 million more claims in April - indicating an unemployment rate of 12.5%.   "We've lived through the recession and 9/11. What we're seeing with this decline is actually worse than both of those events," said Irina Novoselsky, CEO of online jobs marketplace CareerBuilder.   Stocks traded higher on Thursday, boosted by sharply rising oil company shares.   Crude prices surged after President Donald Trump told CNBC that the Saudis and Russians will end their price war. "GREAT for the oil & gas industry!" Trump tweeted.   Despite this welcome improvement, oil continues to trade in the $20s with millions of excess barrels pumped every day.   Subscribe to CNBC PRO for exclusive insights and analysis, and live business day programming from around the world. Al Lewis | CNBC Markets Editor @tellittoal TOP NEWS  Dow jumps after Trump tells CNBC Saudis and Russia will ease oil pressure US weekly jobless claims double to 6.6 million Even with 6.6 million more workers seeking unemployment, millions more still need to file This map shows which states are seeing the most job losses due to the coronavirus Trump tells CNBC he spoke to Putin, MBS and expects Saudis, Russia to announce 10 million barrel cut Track the latest coronavirus news here Shares of China's Luckin Coffee plummet after investigation finds COO fabricated sales Jim Chanos says he covered bet against China's Luckin Coffee amid 70% plunge Thursday Fed's Kaplan sees the jobless rate rising to mid-teens then falling to 8% this year Zoom falls as much as 16% as CEO apologizes for security lapses, says daily users spiked to 200 million in March     TOP VIDEO Watch CNBC's full interview with Goldman Sachs CEO David Solomon on coronavirus crisis   CNBC PRO Bank of America cuts S&P 500 target to lowest on Wall Street, sees worst post-war recession in history   SPECIAL REPORTS These two airlines are 'too big to fail,' investor says Brace for coronavirus fallout to take stocks to new lows, $107B money manager warns   Unsubscribe Manage Newsletters Terms of Service Join the CNBC Panel Digital Products Feedback Privacy Policy   © 2020 CNBC LLC. All rights reserved. A property of NBCUniversal. 900 Sylvan Avenue, Englewood Cliffs, NJ 07632 Data is a real-time snapshot *Data is delayed at least 15 minutes. Global Business and Financial News, Stock Quotes and Market Data and Analysis. Data also provided by THOMSON REUTERS